Rental Property for Everyone

More and more people are investing in rental property these days. Whether you have a small apartment in your house to rent, or decide to invest in an apartment or office building, rental property can provide extra income for you and your family. What does every landlord need to know?

Leases

A lease is an agreement between a landlord and a tenant. Standard leases are available at most office supply stores, and many property owners find them quite satisfactory. Read the standard lease carefully to determine if it meets the needs of your situation. You may want to make some additional provisions. You may want to add a pet clause, for example, or make different specifications pertaining to the security deposit. If you decide to make changes to the standard lease, you should meet with a lawyer. The lease is the most important tool you have if you need to resolve a dispute with your tenant. When you have a lease written by a lawyer, you are assured that you have the protection you need.